105 Quotes by Stephen A. Schwarzman

Down cycles are not fun. But they form the basis for enormous future profitability.

If I get angry, it’s obvious. I don’t have to say much.

I’ve lived through periods of illiquidity before. Asset prices come down. The economy slows or even goes into recession. Then the cycle re-starts. We buy at lower prices with less leverage.

I’m not feeling undertaxed. Tax reform is an important issue. You have to have an inherent sense of fairness.

I’m concerned with China growing at double or triple the rate of the West, that there will be tensions. One needs to do something to start addressing misunderstandings and frustration.

My personal taxes are 53% of my taxable income. That’s 36% on the federal level and 17% for state and local.

Every day should be a good day. People fool themselves that they'll be here forever.

Washington, D.C., puts enormous burdens on people who, at the end of the day, are just humans.

I have a saying: There are no brave old people in finance. Because if you're brave, you mostly get destroyed in your 30s and 40s. If you make it to your 50s and 60s and you're still prospering, you have a very good sense of how to avoid problems and when to be conservative or aggressive with your investments.